Donor Benefits

How Do Donors Benefit?

Donors do not so much give to the Foundation as give through it. We make it easy for donors to give to the broadest array of charitable causes and organizations using a wide variety of assets. If you are considering a major or planned gift, you will find that the simplicity, flexibility, accountability, tax benefits, cost effectiveness, and value-added service of the Wichita Falls Area Community Foundation can be just what you are looking for.

While the creation of a private foundation may be the best choice in certain circumstances, many local donors have found the creation of a named fund within the WFACF is an attractive alternative that can achieve the same objectives.

Key Benefits

Simplicity

A named fund can be created in a day and at no cost to the donor. Private foundations take time to start up and incur expenses associated with the creation of a new organization and on-going administrative duties.

Flexibility

Within established legal guidelines, almost any kind of charitable activity can be supported through a fund within the WFACF. Family members can be involved. Grants can be made to qualified organizations anywhere in the United States. While we concentrate on building permanent endowment, it is also possible to create funds that spend a percentage of principal or that simply “pass-through” 100% of the gift to deserving charities. (Creating funds)

Accountability

The foundation issues annual audited financial statements and annual reports to donors regarding adherence to their wishes and sound financial practices. You can be assured the Foundation will be true to your charitable objectives for generations to come.

Tax Benefits

As a public charity qualified under IRS 501(c)(3), gifts to the Foundation qualify for maximum tax advantages more than a comparable gift to a private foundation. A gift of cash is deductive up to 50% of the donor’s contribution base. For gifts of appreciated property, the deduction is up to 30% of the donor’s contribution base.

Cost Effectiveness

The Foundation generally pools its separate endowments for investment purposes while retaining each as a separate entity on its books. This results in better investment opportunities with less overhead than if each endowment were invested on its own. All funds, no matter what size, benefit from professional management. Also, an endowment within the foundation pays no tax on investment income.